Volvo to sell majority of Polestar (PSNY) stake, cuts funding for next growth stage

@[email protected] · 7 months ago

Volvo to sell majority of Polestar (PSNY) stake, cuts funding for next growth stage

@MrPibb · edit-2 7 months ago

While Volvo is selling its majority stake in Polestar, Geely (the company that owns 82% of Volvo) is buying Volvos stake in Polestar. I forgot to mention before buying Volvos stake Geely already owns 49.5% of Polestar.

@[email protected] · 7 months ago

So Geely are effectively selling polestar to themselves? 🤔😂

andyburke · 7 months ago

EVs bad, EVs failing is the latest clickbait cycle. It’s so dumb and boring.

@[email protected] · 7 months ago

I was looking pretty hard at a 2022 Polestar, but decided to go another direction. The recent news from Volvo played a part, but more importantly they have a pretty limited service network in the U.S. The closest one to my house was over 100 miles away. Which is a shame because I’m really impressed with the Polestar aesthetics.